Why Ethereum Could Present Unique Opportunity For Investors If It Drops Below $1,600

2023-2-10 21:00

Ethereum has been retracing on its previous weeks’ profits and seems ready to re-test support levels below its current price. The crypto market has seen significant gains as the macroeconomic landscape shows signs of improvement, but the crypto winter is not in the review mirror yet.

As of this writing, Ethereum (ETH) trades at $1,630 with a 1% loss in the last 24 hours. Over the previous week, the cryptocurrency recorded sideways price action outperforming other assets in the top 10, such as Bitcoin (BTC) and XRP, which recorded a 5% and 3% loss, respectively.

One Macro Event, Two Opportunities For Ethereum

Per a report from investment firm Blofin, the two largest cryptos by market capitalization, Bitcoin and Ethereum, have seen relatively slow price action over the past 24 hours. However, this status quo could change in the coming days.

At least in the crypto options sector, there has been a decline in Implied Volatility (IV), which measures expectations of future price movement. This metric is approaching its January 2023 level, suggesting the IV is bottoming and could spike again.

As seen in the chart below, IV declined after a significant increase in early January. At that time, the price of Ethereum and other cryptocurrencies appreciated and trended to the upside.

In the current context, Blofin notes less interest from Market Makers to defend ETH’s current levels. These investors might hedge against the spike in IV and potential downside price action from macroeconomic events. The firm noted:

Ether’s situation is not very optimistic. (…) MMs will not tend to buy in spots hedging against the gamma exposure once the price collapses before the weekend.

In other words, large investors could be waiting for a clearer view of the macroeconomic landscape. Next week, the U.S. will publish its Consumer Price Index (CPI), a proxy to gauge inflation in the dollar.

If the metric beats expectations, with recent data pointing towards a strong U.S. labor market, the Federal Reserve (Fed) could exercise more pressure on global markets, including digital assets. These measures could lead Ethereum to re-test its yearly lows.

In a separate report from the on-chain firm Jarvis Labs, an analyst points towards the clues hinting at a change in the market regime. Supported by a decline in the U.S. dollar and a historical bullish signal, Bitcoin’s (BTC) golden cross of its 50-day moving average above the 200-day moving average.

Whenever these moving averages intertwine, the crypto market enters a new bull run amid a spike in volatility and some price declines in the short term. Thus, if ETH crashes below $1,600, long-term holders could take advantage of a potential opportunity.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 4.67 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0095806 (-100%)

crypto below ethereum gains macroeconomic significant mirror

Èñòî÷íèê: newsbtc.com

crypto below → Ðåçóëüòàòîâ: 126


Ôîòî:

Here’s Why Ethereum Has the “Best TA Structure” in the Crypto Market

Ethereum is currently in the process of breaking back above its crucial $380 resistance level This level has significant historical importance, as breaks above and below it have marked turning points for the cryptocurrency’s previous trends Whether or not the crypto can push higher in the near-term may depend somewhat on Bitcoin The benchmark crypto has been seeing a slight uptrend over the past day, but it remains below its $11,600 resistance One analyst is […]

2020-10-20 23:00


Ôîòî:

Ethereum Just Closed Beneath These Critical Levels; Here’s What May Come Next

Ethereum’s price action throughout the past few days and weeks has been rather lackluster The cryptocurrency has been underperforming Bitcoin and even some of its altcoin counterparts This trend is shifting slightly today, as the entire crypto market is starting to move higher One analyst is noting that ETH is bearish from a purely technical standpoint, as it is currently trading below multiple key technical levels Yesterday, it closed beneath both its 50 and 100-day […]

2020-10-9 23:00


Ôîòî:

Bitcoin Remains Stuck Below Key Technical Level as Bulls Try to Take Control

Bitcoin’s price has been stagnant throughout the past several weeks and months, with buyers and sellers being unable to gain firm control of its near-term outlook The crypto is now pushing up towards $10,800, which has proven to be a heavy resistance level throughout the past several days and weeks If this level continues holding strong as resistance, whether or not it is broken above should offer profound insights into BTC’s near-term outlook A firm […]

2020-9-27 19:00


Ôîòî:

Ethereum Weakens as Analysts Eye Possibility of Major Downside

Ethereum is showing some signs of weakness as its price trades below $380 Breaking above this level was a significant technical development that caused many analysts and traders to flip bullish on the crypto As its weekly candle close fast approaches, however, bears seem to be regaining control over its near-term outlook There’s a high probability that this will cause it to see further near-term downside, potentially striking a blow to its macro market structure […]

2020-9-21 22:00


Ôîòî:

These 3 Factors Signal Bitcoin is Gearing Up to Make a Massive Push Higher

Bitcoin is currently the strongest major asset within the crypto market, expressing stability – and even bullishness – as its price trades just below the $11,000 region Bulls have been building up BTC’s momentum throughout the past few days, which comes as altcoins flash signs of weakness This means that the ongoing uptrend may be coming about as a result of a “flight to quality” as investors flee smaller tokens One trader is specifically pointing […]

2020-9-17 21:00


Bitcoin is Gearing Up for a Major Push Lower as Analysts Eye $9,600

Bitcoin’s inability to break above $10,500 speaks to some underlying weakness amongst the cryptocurrency’s bulls It also shows that the bears still have the edge over the benchmark crypto’s price action, which could mean that a break below its key support between $9,900 and $10,000 is imminent BTC is currently caught within a consolidation phase, being unable to find any strong momentum following the recent rejection Analysts are growing bearish on its near-term outlook, with […]

2020-9-12 02:00


Bitcoin is Defending a Crucial Macro Level as Bulls Show Signs of Strength

It is growing increasingly clear as to just how important $10,000 is for Bitcoin’s macro price action, as this level has been ardently defended by bulls on multiple occasions BTC has been trading around the level for the past several days, with each dip below it proving to be highly short-lived Bulls’ slight displays of strength whenever the crypto dips below this level are a positive sign for its near-term outlook One analyst is now […]

2020-9-9 21:00


Bitcoin Struggles to Hold Above $10,000 as Risk of Serious Downside Grows

Bitcoin plunged overnight to lows of $9,900 once again, with bulls struggling to defend against it seeing further downside Analysts are widely noting that the cryptocurrency is now at risk of seeing even further downside in the near-term as it struggles to maintain above its crucial support One trader is noting that a continued bout of trading below $10,000 could strike a blow to the crypto’s technical structure He reckons that this will lead BTC […]

2020-9-7 21:00


Bitcoin is Poised to Explode Towards $11,000 After Tapping Key Liquidity Region

The crypto market has been battered throughout the past few days, with sellers gaining a serious edge over buyers as they force most digital asset prices lower The strength of this selling pressure has been enough to cause some major altcoins like Ethereum to post monumental losses, with ETH plunging to lows of $330 while Bitcoin briefly broke below $10,000 It is important to note that BTC’s latest breakdown was quickly absorbed by bulls, who […]

2020-9-6 19:00


Ôîòî:

Data Shows “Smart Money” is Looking to Buy Bitcoin at $8,800

It has been a rough past couple of days for Bitcoin and the rest of the crypto market, with bears forcing BTC to dive as low as $10,000 The support found just below this price region was significant, as BTC quickly bounced and ran back towards the upper-$10,000 region Bulls and bears have since reached an impasse, with the cryptocurrency consolidating as it attempts to garner some clearer directionality in the near-term One analyst is […]

2020-9-5 21:00


Analyst: Ethereum Likely to Plunge Towards $320 After Tapping This Key Level

Ethereum has been closely tracking Bitcoin’s price action throughout the past few weeks, although it has been able to outperform the crypto in recent days The cryptocurrency is currently trading up significantly from recent lows of $379 that were set during its recent selloff While BTC remains below its pre-selloff highs, Ethereum has been able to surge past them Despite this strength, analysts are still noting that the crypto may plunge into the lower-to-mid $300 […]

2020-8-30 22:00


Ôîòî:

Ripple (XRP) breaks support as the platform faces lawsuit in Australia

Ripple (XRP) price broke below key short-term support at $0. 27 as the sellers assumed control of the price action. In the meantime, the crypto giant is facing a lawsuit in Australia.   Fundamental analysis: Legal troubles for Ripple A large Australian financial services company is pressing charges against the crypto company Ripple Labs on trademark infringement allegations.

2020-8-29 18:04


Ôîòî:

Bitcoin’s Price is Hovering Above “Last Ditch” Support Following Recent Selloff

Bitcoin is currently teetering above its crucial support at $11,300 This level has been holding strong over the past day, but an influx of selling pressure has put it at risk of being broken below in the near-term This level also happens to coincide with the benchmark crypto’s 200-day ema, which is a crucial technical level that must be defended If this technical and horizontal support is lost in the days ahead, BTC could be […]

2020-8-27 02:00


Ôîòî:

Ethereum Isn’t Clear of Danger Yet, But Analysts are Eyeing a Move to $500

Ethereum has seen a sharp decline over the past several hours that has caused it to break back below $400 This movement came about in tandem with a similar decline seen by Bitcoin and has sent shockwaves throughout the aggregated crypto market Analysts are now noting that ETH may be poised to see further near-term weakness, but its bull case remains strong One trader is noting that Ethereum has yet to break below a crucial […]

2020-8-26 23:00


Bitcoin Forms Higher Lows as Bulls Defend Against Heavy Selling Pressure

It has been a rocky past few days for Bitcoin and the entire cryptocurrency market After first stabilizing above $12,000 for a multi-day period earlier this week, the crypto recently faced an influx of selling pressure that pushed it back below this level It has now entered what appears to be yet another prolonged consolidation phase in the upper-$11,000 region On a positive note, bulls have been able to establish higher lows, while also guarding […]

2020-8-21 21:00


Ôîòî:

Bitcoin Short Positions Surge to 4 Month High as Bears Grow Aggressive

Bitcoin and the entire crypto market – with a few exceptions – is flashing signs of weakness at the present moment This has come as a result of the sharp decline seen last night, which sent BTC reeling below its key $12,000 support The benchmark crypto is now consolidating between $11,600 and $12,000 This is the same trading range that it was trading in before its recent break above $12,000 Analysts do believe that the […]

2020-8-20 02:00


Ôîòî:

Here’s How High One Trader Expects Bitcoin to Climb Before Forming a Top

Bitcoin faced yet another $12,000 rejection yesterday that caused the cryptocurrency’s price to reel down towards $11,700 This level appears to have been established as support, as buyers ardently defended against any break below it It now appears that the crypto’s short-term technical outlook remains unchanged, as BTC is still consolidating within the upper-$11,000 region As for where it may go next, one analyst explained that he is looking towards $13,000 as a near-term target […]

2020-8-17 19:00


Analyst: Bitcoin Could Surge to $17,000 Once This Crucial Level is Broken

Bitcoin has been caught within a bout of sideways trading for the past couple of weeks This has led it to form a relatively wide trading range between $11,200 and $12,200 The crypto’s buyers have been ardently guarding against a dip to below the lower boundary of this range, as a strong upswing follows each visit here Analysts are now noting that BTC may be positioning itself to see significantly further gains in the short-term […]

2020-8-16 19:00


Ôîòî:

This Fundamental Metric Suggests Bitcoin is in the Early Stages of a Bull Run

Bitcoin and the entire crypto market was able to see a push higher yesterday afternoon, which came about shortly after Ethereum surged past its near-term resistance level ETH, which was previously stuck below $400, incurred an explosive rally that sent its price racing up to highs of $430 This provided BTC with a slight tailwind, but the benchmark cryptocurrency remains stuck below its $12,000 resistance Despite its technical weakness, from a fundamental standpoint, it appears […]

2020-8-15 21:00


Bitcoin Prone to Seeing Downside as It Trades Below Key Level

Bitcoin and the aggregated crypto market are struggling to extend the mid-term uptrend that has driven them higher over the past few weeks This has come about as BTC pushes up against insurmountable resistance at $12,000 – a level that it has been rejected at on multiple occasions Analysts are now noting that it may require a daily close above $11,900 for it to see further upside that sends it past this price level There […]

2020-8-14 02:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours – Details

Ethereum has faced significant volatility over the past few days, with massive selling pressure emerging after the cryptocurrency failed to break above its yearly highs set earlier in December. This price action has left traders and investors questioning the next direction for ETH as it consolidates under critical resistance.

Ethereum Price Takes a Plunge: Can Bulls Step In?

Ethereum price extended losses and dropped below the $3,680 zone. ETH is down over 7% and is showing bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,680 zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average.

Ethereum Price Falls 5%: Correction or Start of a Bigger Slide?

Ethereum price started a sharp decline below the $3,880 zone. ETH is down over 5% and is showing bearish signs below the $3,680 level. Ethereum started a fresh decline below the $3,800 zone. The price is trading below $3,680 and the 100-hourly Simple Moving Average.